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U.S., Brazil investigating Embraer for possible bribery

  • Authorities in the U.S. and Brazil are reportedly looking into whether Embraer (ERJ) bribed officials in Argentina and the Dominican Republic in order to win deals worth up to a total of $292M.
  • The investigation is among Brazil's first into alleged corruption by a domestic company overseas. Embraer disclosed in 2011 that it was under investigation by the U.S. for its practices when trying to secure orders for aircraft.
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